UK - Consultant Deloitte is to launch its own private equity fund-of-funds.
The firm is finalising details of the pooled fund – aimed at pension schemes – and hopes to launch it next month.
The private equity package will consist of a range of third-party fund-of-funds and a set of standalone funds provided mainly by US fund managers.
Deloitte’s fund will be split between venture capital and buyout funds. Allocations to its underlying funds will be altered when necessary to reflect what the consultant sees as the best opportunities.
The fund will also have a tactical overlay which will enable Deloitte to take account of market cycles and their potential impact upon its investments.
Head of investment services Tony Osborn-Barker said: “This is a fund-of-funds and direct investments. It is a commingled vehicle, with investment on both levels. It will give investors a geographic mix, and over time, it will also move to reflect the economic cycle and most benign opportunities.”
The fund will be overseen by a board consisting of Deloitte staff and representatives from the chosen private equity providers, which Osborn-Barker says, should ensure the “correct blend” of strategic advice and stock-picking know-how.
The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) have outlined plans to better understand the consumer pensions journey as they launch their joint strategy.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.